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Report Date : |
31.08.2012 |
IDENTIFICATION DETAILS
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Name : |
DK COMPANY AS |
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Registered Office : |
La Cours Vej 6,
7430 Ikast |
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Country : |
Denmark |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.02.1959 |
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Com. Reg. No.: |
24431118 A/S |
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Legal Form : |
Public Limited Company Quoted |
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Line of Business : |
Wholesaler of clothing and footwear |
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No. of Employees : |
141 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Denmark |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
DENMARK - ECONOMIC OVERVIEW
This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy among the highest standards of living in the world and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, continued to decline in 2011 though at a slower pace. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish real GDP by 0.8% in 2008 and 5.8% in 2009. Denmark made a modest recovery in 2010 with real GDP growth of 1.3%, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-11, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009. In spite of the deficits, the new coalition government plans to deliver a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU at 46.5% of GDP in 2011. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro. Denmark held the EU presidency during the first half of 2012; priorities included promoting a responsible, dynamic, green, and safe Europe, while working to steer Europe out of its euro zone economic crisis.
|
Source
: CIA |
Main name DK COMPANY A/S
Main address LA COURS VEJ 6
City 7430 IKAST
Country Denmark
Phone-no. +45-96-600700
Fax-no. +45-96-600710
Nat. partner ID-no. 126612
ID-/Reg.-no. 24431118 A/S
Legal form Public limited company qouted
Company Status Active
Activity 46.42 Wholesale of clothing and footwear
No of employees empl 141
Management
JENS POULSEN (Managing director)
JENS OBEL JØRGENSEN
SØREN BAK LAURITSEN
KASPER PHILIPSEN
Board of directors
BO BOULUND KNUDSEN (Chairman of the board)
DION MØBERG ERIKSEN (Member of the board)
JENS ALBERT NIELSEN KUSK (Member of the board)
Established 2001
Registered 1959-02-06
Bankers NORDEA BANK DANMARK A/S ERHV.CENTER MIDT-OG
-
VESTJYLLAND
Currency Danish Krone
<* *>
Closing date 2011-12-31 2010-12-31 2009-12-31
Source Ann. report Ann. report Ann. report
Turnover 83.013.000 4.247.000
Costs 93.039.000 1.309.000
Ordinary result -14.482.000 -3.946.000 2.938.000
Tax -54.098.000 -1.000
Annual result 39.616.000 -3.946.000 2.939.000
<* Assets *>
Fixed assets 119.948.000
Current assets 226.599.000 8.129.000 10.382.000
<* Liabilities *>
Equity capital 108.262.000 8.008.000 10.150.000
Share capital 61.195.000 35.500.000 35.500.000
Short-term debts 238.285.000 121.000 232.000
Gearing I -2.039,06 1,51 2,29
Acid test ratio I 95,10 6.718,18 4.475,00
Acid test ratio II 77,61 6.718,18 4.475,00
Return on investment -2,89 -12,68 28,30
Return on equity -13,38 -49,28 28,95
Solvency ratio 31,24 98,51 97,77
Property No
Parent company DKC HOLDING 2011 A/S (ID:953953) (99%)
Subsidiaries FRANSA COMPANY A/S (ID:38368) (100%)
MID PRO TEX A/S (ID:1036638) (51%)
Secondary names(s) DESIGNERSMARKET A/S
GAIA & KO A/S
K-RETAIL A/S
KAFFE CLOTHING A/S
KIDZONE A/S
Payment profile Payment regular
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.65 |
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UK Pound |
1 |
Rs.88.10 |
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Euro |
1 |
Rs.69.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.